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Old Posted Oct 20, 2014, 4:06 AM
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summersm343 summersm343 is offline
Join Date: Oct 2011
Location: Philadelphia
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State Awards $2.5 Million Grant for East Market
Governor Tom Corbett on September 8 announced the award of a $2.5 million Economic Growth Initiative grant to Philadelphia for the multi-phase redevelopment of the 4.3-acre East Market project, bringing the state’s investment in the project to $10 million. The site is bounded by East Market, Chestnut, 11th and 12th Streets.

The City of Philadelphia has committed $4 million in capital funding for public street, utility and sidewalk improvements in the immediate area surrounding East Market, the governor’s press release noted.

The project, whose first phase is expected to start with the demolition of the Market Street parcel in October, is anticipated to create 286 permanent jobs, 1,198 construction jobs and direct taxes to the Commonwealth estimated at $860,000 annually.